Momentive reports net losses, mixed sales

1:44 PM MDT | May 14, 2013 | Lindsay Frost

Momentive Performance Materials (MPM; Waterford, NY) and Momentive Specialty Chemicals (MSC; Columbus, OH) both reported first-quarter results today, showing slight growth, though both still reported a net loss. Both companies are owned by private equity firm Apollo Management. MPM, a producer of quartz and silicones, reported a net loss of $61 million compared with a net loss of $65 million in the year-ago quarter—reflecting the improved operating income of $17 million, partially offset by a $16-million increase in costs, the company said. Improvements...